Category Archives: Elder Law

2012 Treasury Report on Social Security & Medicare

I.  Introduction.  Treasury’s 2012 Report to Congress on the financial health of Social Security and Medicare emphasized that Americans are living longer and that the number of retirees is growing. This is placing pressure on Social Security, which is projected … Continue reading

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Elder Law Planning: Deciphering the Puzzle

View in PDF:  Tax News & Comment — February 2013 Elder Law Planning:  Deciphering the Puzzle I.       Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading

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Supplemental Needs Trusts

Elderly and disabled persons are peculiarly prone to significant and continuing costs for long-term care. Since many governmental benefits are need-based, ownership of substantial assets may preclude qualification under these programs.

A Special Needs Trust (SNT) established for a person with severe and chronic disabilities may enable a parent or family member to supplement Medicare or Supplemental Security Income (SSI), without adversely affecting eligibility under these programs, both of which impose restrictions on the amount of “income” or “resources” which the beneficiary may possess. 42 U.S.C. § 1382a. Continue reading

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